Almost everyone agrees that a written business plan is an important tool for success. Yet too many small business owners put off the project because of the complexity of the planning process. Online tools or business plan templates can be useful but often involve some type of fee or require purchase of a related service so this might undermine their usefulness.
What if you could complete a business plan free of charge in about 30 minutes? This business plan template is meant simply as a free and easy tool that can be completed in about half an hour. Just add a few sentences to each of the functional planning categories numbered 1 through 7. Revisit and refine your plan from time to time later as you accumulate new business experience. That’s it! You’ll be well on your way to enjoying the benefits of a solid written business plan.
1. Customer Problem / Your Solution
What will you sell?
Who will buy it?
How will your product help people?
2. Business Model
What will you charge?
How will you get paid?
How else will you make money from this project?
3. Target Market
Who is your customer?
How many of them are there?
What is your competitive advantage?
Why will a customer choose you over a competitor?
4. Marketing and Sales
How will customers hear of your business?
How can you encourage referrals?
5. Management Team
Who will carry out these key activities?
6. Financial Summary
How will you know when the business is a success?
What level of sales revenue?
What number of customers?
7. Potential Obstacles
What potential obstacles or challenges do you anticipate?
What funding is required?
Opinions expressed are the solely those of the author and do not represent the position of any other person, company or entity mentioned in the article. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Tony Novak operates as an independent adviser under the trademarks "Freedom Benefits", "OnlineAdviser" and "OnlineNavigator" but is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier. He has no financial position in any stocks mentioned. Novak does work as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to other companies including the companies listed in the articles on this web site.